During demo, if they open up a wall and find a leak that requires a change order. the change order should be specific to that repair and have a cost associated with it. 6.

An experienced agent would have worked with the seller to do the repairs before they sold, and captured the forced equity in the sale.

For example do you have a great w2 and can you afford to cover costs of a major repair or 3 months of vacancy?

If foreclosure is what you want to invest in get a head of the game and focus on a target area and know if that HOA is a pain to work with, you might just find someone who wants to sell quickly to get aways from the HOA.

You are already ahead of most of the others just starting out.

None of these things will bring success tomorrow, but with doing them consistently every day, I will wake up in 5,10,20,30,40,60 years and be miles ahead of everyone else.2) Never stop learningThere is only growth or decay, there is no middle ground.

We invested into the property and came well ahead of the local market.

@Fareen E.Great question, and it’s excellent that you’re thinking ahead about this scenario.

If the receipt says what it cost to do the repairs, that amount should be reimbursed.  

Since you're wrapping up paperwork, make sure your lease terms are solid, get the right insurance (landlord + homeowner), and set aside some cash for future repairs.